Which of the Following Statements Is True

question 19

Essay

Which of the following statements is true?
I.Quantity controls drive a wedge between the demand price and the supply price of the good.II.The difference between the demand and supply price at the quota limit is referred to as consumer surplus.III.Quantity controls have no undesirable side effects.
A.Statement I is true.
B.All statements are true.
C.Statement II is true.
D.Statements II and III are true.

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Definitions:

Spinal Column

The central support structure in vertebrates, consisting of a series of vertebrae extending from the skull to the tailbone.

Limbic System

A complex system of nerves and networks in the brain, involved in instinct and mood control, as well as the processing of emotions.

Peripheral Nerves

Nerves located outside of the brain and spinal cord that connect the central nervous system to limbs and organs.

Cerebral Lobes

Divisions of the brain's cerebrum that are responsible for different functions; namely the frontal, parietal, temporal, and occipital lobes.